Moody's’ (MCO) Neutral Rating Reiterated at Credit Suisse Group
Credit Suisse Group reissued their neutral rating on shares of Moody's (NYSE:MCO) in a research note released on Monday morning. The brokerage currently has a $187.00 price objective on the business services provider’s stock, up from their previous price objective of $161.00.
A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus started coverage on shares of Moody's in a research report on Tuesday, December 19th. They set a hold rating and a $167.00 price objective on the stock. Nomura started coverage on shares of Moody's in a research report on Thursday, January 11th. They set a buy rating and a $180.00 price objective on the stock. UBS Group increased their price objective on shares of Moody's from $142.00 to $150.00 and gave the stock a neutral rating in a research report on Monday, November 6th. Barclays raised shares of Moody's from an equal weight rating to an overweight rating and increased their price objective for the stock from $150.00 to $165.00 in a research report on Friday, November 17th. Finally, BMO Capital Markets increased their price objective on shares of Moody's from $143.00 to $146.00 and gave the stock a market perform rating in a research report on Monday, November 6th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Moody's presently has a consensus rating of Hold and a consensus target price of $161.42.
Shares of Moody's (NYSE:MCO) opened at $159.28 on Monday. The company has a market cap of $29,551.71, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.81 and a beta of 1.36. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of -48.22. Moody's has a 1 year low of $107.26 and a 1 year high of $167.23.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, February 16th. This is a positive change from Moody's’s previous quarterly dividend of $0.38. Moody's’s dividend payout ratio is currently 29.51%.
In related news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $147.93, for a total value of $73,965.00. Following the sale, the director now owns 21,336 shares in the company, valued at approximately $3,156,234.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ewald Kist sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.00, for a total transaction of $568,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,005 shares of company stock worth $716,738 in the last 90 days. 1.17% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of MCO. The Manufacturers Life Insurance Company raised its holdings in shares of Moody's by 213.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 960,801 shares of the business services provider’s stock worth $141,824,000 after acquiring an additional 654,589 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Moody's by 2.2% in the 4th quarter. BlackRock Inc. now owns 10,557,911 shares of the business services provider’s stock worth $1,558,454,000 after acquiring an additional 228,277 shares during the last quarter. Meritage Group LP raised its holdings in shares of Moody's by 22.9% in the 3rd quarter. Meritage Group LP now owns 1,209,041 shares of the business services provider’s stock worth $168,311,000 after acquiring an additional 225,432 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of Moody's in the 4th quarter worth about $29,471,000. Finally, Wedge Capital Management L L P NC purchased a new stake in Moody's in the 4th quarter valued at about $28,481,000. Institutional investors own 87.31% of the company’s stock.
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Moody's Company Profile
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.
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